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PRIVATE AND PUBLIC CATALYSTS OF INNOVATION: AN ANALYSIS OF VENTURE CAPITAL AND SBIR INVESTMENT ON U.S. UTILITY PATENT APPLICATIONS

by Pendleton, Edmund Harris

Abstract

This thesis focuses on the United States’ “National Innovation System” (NIS) and the role of private and public actors in this system. It is part of a broader literature seeking to identify the key catalysts of innovative activity, and hence economic growth. Although there are many elements that constitute the NIS, this study emphasizes one private institution, the venture capital industry, and one public institution, the Small Business Innovation Research program. The study uses state-level panel data aggregated over a fourteen-year period (2002-2015) and is operationalized by implementing an Ordinary Least Squares fixed-effects model that uses utility patent applications—a proxy for innovation—as the dependent variable. This thesis argues that public-private partnerships and symbiosis between the two sectors is critical to empowering technological innovation and sustainable long-run economic growth.

Note

The author has given permission for this work to be deposited in the Digital Archive of Colorado College.

Colorado College Honor Code upheld.

Includes bibliographical references.

Administrative Notes

The author has given permission for this work to be deposited in the Digital Archive of Colorado College.

Colorado College Honor Code upheld.

Copyright
Copyright restrictions apply.
Publisher
Colorado College Tutt Library
PID
coccc:30944
Digital Origin
born digital
Extent
53 pages : illustrations, map(s)
Thesis
Senior Thesis -- Colorado College
Thesis Advisor
Vibha Kapuria-Foreman
Department/Program
Economics and Business
Degree Name
Bachelor of Arts
Degree Type
bachelor
Degree Grantor
Colorado College Tutt Library
Date Issued
2019-05